Any bankers or mortage people here

[tazz3]

I have a question i have to move from ny cause the cost of liveing here is sky high a one room apartment is 1200 a month. My girl friend who lives in Pa found a house rent to own with 1900 and 425 a month what do u give the owner a down payment then pay it off?? could u get a mortage for the 15 grand? And just do like that and will a bank give a 15,000 mortage?. I know its not the nicest house but at least its a roof over ur head and its priced right


https://idealgroupinc.appfolio.com/listings/detail/f00f0a47-7946-4c83-b4db-abd7af5134fe

 

[Biddlin]

I have a question i have to move from ny cause the cost of liveing here is sky high a one room apartment is 1200 a month. My girl friend who lives in Pa found a house rent to own with 1900 and 425 a month what do u give the owner a down payment then pay it off?? could u get a mortage for the 15 grand? And just do like that and will a bank give a 15,000 mortage?. I know its not the nicest house but at least its a roof over ur head and its priced right


https://idealgroupinc.appfolio.com/listings/detail/f00f0a47-7946-4c83-b4db-abd7af5134fe

Real estate and banking practices vary by state, but rto is frequently a lease with an option to buy, applying the monthly payments to a down payment. I would have a licensed attorney look over any such agreement and verify the terms and exact payment schedule.

 

[eSGEe]

Agree with Biddy-- if your not sure get it checked out --- to protect YOURSELF--- I have seen some shaddy deals where they get your deposit and 3 months later throw you out----READ THE FINE PRINT --- or better yet get a PRO to read it for you.